{
  "id": 8223141,
  "title": "SPAR bleeds one big investor as others buy the dip",
  "url": "https://urgent.news/2026/09/18/spar-bleeds-one-big-investor-as-others-buy-the-dip",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T10:03:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/2026-09-18-spar-bleeds-one-big-investor-as-others-buy-the-dip/"
  },
  "original_language": "en",
  "account": "Coronation Asset Management has nearly abandoned its investment in SPAR Group, with its stake in the retailer dropping to just 0.17% from 10.89% in August. The asset manager had been reducing its position since the end of August, cutting it from 9.53% to 5.06% before its latest sale. While Coronation has been exiting, other investors have been stepping in, with Mianzo Asset Management taking a 10.30% stake in August and Peresec Prime Brokers increasing its interest to 6.254% in mid-September. Despite the investor turmoil, SPAR shares have risen 4.29% as of mid-morning on Thursday, although they are still down 77.43% over five years. The troubled retailer reported a tough start to the year, with group turnover up 2.1% to R67.5 billion, but headline earnings per share falling 53.9% and profit after tax declining 64.1%. Legal and governance disputes have also plagued SPAR, including allegations of VAT fraud and a baseless application to declare the chairman a delinquent director. The company is restructuring its operations and refocusing on Southern Africa and Ireland.",
  "summary": "Coronation has all but exited Spar while other investors pile in, against a backdrop of falling profit and boardroom turmoil.",
  "key_points": [
    "Coronation Asset Management reduces SPAR stake to 0.17%",
    "Mianzo Asset Management takes 10.30% stake in SPAR",
    "SPAR shares rise 4.29% despite investor turmoil"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}